Zones gets no proposals in go-shop period; CEO could take company private by year end

By Lisa Kerner

Charlotte, N.C., Sept. 4 - Zones, Inc. said it did not receive additional takeover proposals during the go-shop period allowed under the company's merger agreement with Zones Acquisition Corp.

Cascadia Capital, LLC contacted 11 potential transaction partners on behalf of Zones, none of which expressed interest in pursuing a transaction, according to a Zones news release.

Zones Acquisition is a Washington corporation owned by company chief executive officer and chairman of the board Firoz Lalji.

In July Lalji, a 54% shareholder, offered to take Zones private for $8.65 per share in cash.

It was previously reported that the Zones board approved the agreement with Lalji and that the transaction was expected to close in the fourth quarter subject to shareholder approval.

Zones is a single-source direct marketing reseller of name-brand information technology products. The company is located in Auburn, Wash.

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